Stocks Ended with Steep Losses

U.S. stocks ended with steep losses on Monday even after a striking comeback in a volatile day. The Dow Jones Industrial Average
closed down 588.40 points, or 3.57%, to 15,871.35. The S&P 500 fell 77.68 points, or 3.94%, to 1,893.2. The Nasdaq Composite dropped 179.79 points, or 3.82%, to 4,526.25.

Aug 24 Turmoil in world financial markets and growing fears of a China-led global economic slowdown threaten to derail the Federal Reserve’s plans to start raising rates from near zero, making the chances of a September lift-off look increasingly remote.

Oil’s weeks-long slump accelerated sharply on Monday with prices tumbling as much as 6 percent to fresh 6-1/2-year lows. U.S. October crude was down $2.21 or 5.5 percent at $38.24, the lowest since February 2009. U.S. crude.

A massive selloff overwhelmed some online brokerage firms Monday as investors tried to access their trading accounts amid a plunge in the markets.

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